Warranty claims are often viewed as a significant cost for businesses; however, they also provide critical opportunities for companies to increase their revenue and customer satisfaction. In order to capitalize on warranty claim opportunities it is important that a business has the proper technology that can provide access to multiple types of data, analyze the correlation of the data, and generate recommendations for actions. Our warranty management software at DealersCircle is able to help companies manage warranty claim information in order to detect and manage warranties before they become an issue. A comprehensive warranty management solution requires the participation of all team members. Companies that center data in their daily operations can help to realize meaningful revenue making opportunities and mitigate common costs associated with warranty management.
Warranty management has traditionally been thought of as an assurance contract between a company and a customer, which protects the customer from buying a product that does not meet their expectations. In many cases, customers may purchase software, technological devices, automobiles, or other expensive items that are tested for quality, safety, and reliability. When a product fails to meet the standards set forth by the company, then a warranty is an opportunity for the customer to receive the product that they desired and an opportunity for a company to reestablish trust and connection with the user.
An important component of warranty management, which is often overlooked, is that it provides opportunities to sustain or improve a brand image by meeting the needs of customers. Customers who have their needs met through a warranty are more likely to positively represent the company in person and through social networking. Warranty management software allows companies to make sure that customers have their needs met because of a flexible data system that makes sure no warranty is lost or overlooked.
Warranty management software ultimately impacts the customer’s relationship to the company, determines the level of analysis that can be gained and transformed into action, and has a significant impact on future revenues. This technology uses structured quantitative and qualitative data such as notes from users, problem reports and resolution emails, customer feedback and complaints, and other data that a company finds relevance to customer satisfaction when dealing with warranties. This information allows companies to take an analytical approach when attempting to improve product quality and enhance warranty reliability.
At DealersCircle, we provide warranty management software that connects product manufacturers, as well as dealers and repair facilities with their customers through warranty management software that tracks sales and other relevant analytical data. We have multiple years of experience in developing warranty management plans with businesses and helping companies think through data collection and tracking. You can try DealersCircle completely free by visiting us online or by contacting us at info@dealerscircle.com
